The Mudcat Café TM
Thread #128475   Message #2877820
Posted By: Q (Frank Staplin)
01-Apr-10 - 10:37 PM
Thread Name: BS: Obama disappoints again
Subject: RE: BS: Obama disappoints again
63 billion bbls of oil or whatever- it's all pie in the sky until it is proven by the drill.
Exploration will be cautious because of the expense of drilling the offshore prospects.
One disappointment recently is the drilling offshore from Argentina, in the Malvinas (Falklands) area. Very little encouragement from the first well. If the second also proves discouraging, exploration will go elsewhere. There were 'high hopes' for the area; they may never be realized.

The Alaskan offshore is highly questionable, for which I am glad since the area is so important to wildlife and fishing.

In other words, I don't expect a mad rush into the newly opened areas. With proven reserves for quite some time in other areas, why not continue to use them? Much cheaper in the long run.